Nationwide Cash CTF

Published on 26 October 2010 by Raffick Marday

The Nationwide Cash CTF is a very important step taken by the government to influence the younger generation to learn how to save money for future financial stability. This is a fund generally known as the ‘Child Trust Fund’ which could be opened with your request once you visit your nearest Nationwide branch. You can start savings in the name of your kid and your kid can continue his or her savings. This way our next generation will realize the importance of savings and when they grow up to be 18-years and above a handsome amount will be ready for them to help them to start off their life in a smoother fashion.

This will boost their self confidence to a much higher level since they will realize that this amount have been their own savings and they will be very responsible towards spending that hard earned money since their childhood. This CTF is specially designed for children below 18-years to enhance their strength to face their financial crunches, if any.

The important savings of a child is invested by the government and the government also contributes against that savings. The interest rate provided by the bank is 1.10% AER. The government always encourages more savings by the small children. If a child deposits £240 or more in a year then that child’s account is given an additional interest bonus of 1.00% gross p.a., which makes it 2.10% AER including bonus. Thus, encouraging the kids to save more.

Once the child reaches 18-years of age, he or she could withdraw the total savings along with the interest and move forward to face the world and make his or her life easy with the fund in hand. The entire amount is tax free and no penalty is levied for withdrawing the money. Therefore Nationwide Cash CTF is friend who would be very helpful for your future giving you happiness and freedom from most of the financial contingencies of your future life.


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